A normative approach for the harmonization of national policies to supra-national frameworks with reference to Greece and the European Union

Abstract

This paper looks into the challenges that further economic integration in the European Union (EU) poses upon the member states. The continuing adjustment and integration of the individual economies of the EU does not focus as much on ironing out structural differences as on issues of economic policy fine-tuning. The argument suggests that by harmonizing their economic goals with those of the EU, member states are likely to expedite reaching national economic objectives as well as achieve the EU's supra-national economic goals. The paradigm of Greece is discussed and a policy analysis vis-a`-vis competitiveness, technology and innovation, productivity, learning and knowledge, and labour market flexibility is attempted. In the following sections an effort is made to examine the not-so-visible effects of the EU's supra-national economic policy and discuss its impact upon Greece's national economic policy. Policy prescriptions relevant to economic policy formulation are argued. Those prescriptions relate to policy direction and framework rather than specific policy articulation and policy programming, and are considered defensible. Also, results are consistent with the expectation that the challenges for economic integration are greater for Greece than for a member state in a higher-tier economy.